Quid Raises $74 Million to Loan Money to Tech Workers—Using Their Startup Shares as Collateral

Harri Weber

Harri is dot.LA's senior finance reporter. She previously worked for Gizmodo, Fast Company, VentureBeat and Flipboard. Find her on Twitter and send tips on L.A. startups and venture capital to harrison@dot.la.

Quid Raises $74 Million to Loan Money to Tech Workers—Using Their Startup Shares as Collateral
Quid Managing Partners Josh Berman (left) and Anthony Tucker

Quid, which loans money to employees at high-flying tech firms, has quietly raised $74.1 million in new funding, according to a disclosure filed this week with the Securities and Exchange Commission.


The Santa Monica-based company offers tech workers who are awarded equity a way to cash out early—a valuable proposition in an era when startups are choosing to stay private longer. Quid provides loans worth up to 35% of the value of an employee’s stock; in return, it charges interest rates around 7% and also receives a cut of the shares after a liquidity event such as an IPO or acquisition.

Since the only collateral involved is the equity itself, Quid says it only works with a select group of firms—at least two dozen at last count—that it deems worthy of the risk, including Airbnb, Bird and SpaceX. Quid, which launched in 2017, most recently raised $320 million for its second fund in late 2020, as dot.LA reported at the time.

Quid’s new $74 million funding haul came from just one investor, per the SEC filing. While representatives for the company did not respond to a request for comment, at least one LP—L.A.-based private equity giant Oaktree Capital Management—has publicly said it would partner with Quid on future funds. Coupled with the $420 million it raised across its first two funds, according to Crunchbase data, the new funding would take Quid to nearly $500 million raised to date.

Quid is unequivocally a Troy Capital production: it is led by Troy partners Josh Berman, Anthony Tucker, and Samit Varma, and is the sole company advertised on the Santa Monica-based venture capital firm’s website.

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LA Tech ‘Moves’: Adtech Firm OpenX Lures New SVP, Getlabs and DISQO Tap New VPs

Decerry Donato

Decerry Donato is dot.LA's Editorial Fellow. Prior to that, she was an editorial intern at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

LA Tech ‘Moves’: Adtech Firm OpenX Lures New SVP, Getlabs and DISQO Tap New VPs
Photo by James Opas | Modified by Joshua Letona

“Moves,” our roundup of job changes in L.A. tech, is presented by Interchange.LA, dot.LA's recruiting and career platform connecting Southern California's most exciting companies with top tech talent. Create a free Interchange.LA profile here—and if you're looking for ways to supercharge your recruiting efforts, find out more about Interchange.LA's white-glove recruiting service by emailing Sharmineh O’Farrill Lewis (sharmineh@dot.la). Please send job changes and personnel moves to moves@dot.la.

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This Week in ‘Raises’: Miracle Miles Lands $100M, Fintech Startup Tapcheck Hauls $20M

Decerry Donato

Decerry Donato is dot.LA's Editorial Fellow. Prior to that, she was an editorial intern at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

This Week in ‘Raises’: Miracle Miles Lands $100M, Fintech Startup Tapcheck Hauls $20M
Image by Joshua Letona

In this week’s edition of “Raises”: An L.A.-based footwear company closed $100 million to boost its expansion into the global market, while there were Series A raises for local fintech, biotech and space startups.

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